Question

Define simple and compound interest and write the formula for amount
1 . when intrest vis compounded yearly
2. when intrest is compounded half yearly
3. when intrest is compounded quarterly
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Answer 1

Compound interest, or 'interest on interest', is calculated with the compound interest formula. The formula for compound interest is P (1 + r/n)^(nt), where P is the initial principal balance, r is the interest rate, n is the number of times interest is compounded per time period and t is the number of time periods.

Answer 2

Answer:

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